Risk analysis of oil and gas projects: possible problems, approaches to solving

Author(s):  
������ ◽  
Igor Demkin ◽  
������ ◽  
Valeriy Lesnykh

We consider the problems of scientific analysis and risk monitoring of oil and gas projects. The basic possible approaches to solve them are shown. Based on existing standards of risk management, as well as using personal practical experience of risk analysis of several major oil and gas projects, the authors concluded the feasibility of developing and implementing in the methodology of analysis and monitoring of project risks, based on the economic-mathematical modeling.

Author(s):  
Chaiwat Pooworakulchai

Risk management was applied to many organizations. There was a risk of multiple and complex manner in the construction industry, because it has a variety of elements. The application of risk management was therefore used in solving problems that suffer from the past to create an alternative to proper functioning under conditions. This article studied the main application to risk management in the construction industry by the sample texts document. The applying of risk management in the construction industry was 3 stages of risk management which were the risk analysis, risk assessment, risk control and follow-up, which was used to store information in the past and brainstorm by virtue of experience, expert tips and techniques to determine the risk analysis and risk evaluation of a mathematical methodology combined with the master planning of construction work to analyze, evaluate the risk under different condition and situations. Control, risk monitoring and risk assessment were a small amount so it should be a topic of research in future rely on notes and update the plan. The three important things for the applying of risk management in the construction industry were personnel, information and continuous learning.


2018 ◽  
Vol 8 (2) ◽  
pp. 54-62 ◽  
Author(s):  
Bashir Muhammad ◽  
Sher Khan ◽  
Yunhong Xu

This study examines how risk management practices can be influenced by factors, including understanding risk management, risk assessment & analysis, risk identification, risk monitoring and credit risk analysis in commercial banks of Pakistan. The collected data satisfied the reliability requirement and regression and correlation analyses were adopted. The results suggest that understanding risk and risk management (URM), risk assessment and analysis (RAA), risk identification (RI), risk monitoring (RM) and credit risk analysis (CRA) have positive significant impact on risk management practices (RMP). This suggests that commercial banks in Pakistan need to pay attention to URM, RAA, RI, RM and RA. Moreover, RM and RAA are prominent variables which influence RMP; therefore commercial banks of Pakistan should focus on RM and RAA


2019 ◽  
Vol 16 (6) ◽  
pp. 60-77
Author(s):  
E. V. Vasilieva ◽  
T. V. Gaibova

This paper describes the method of project risk analysis based on design thinking and explores the possibility of its application for industrial investment projects. Traditional and suggested approaches to project risk management have been compared. Several risk analysis artifacts have been added to the standard list of artifacts. An iterative procedure for the formation of risk analysis artifacts has been developed, with the purpose of integrating the risk management process into strategic and prompt decision-making during project management. A list of tools at each stage of design thinking for risk management within the framework of real investment projects has been proposed. The suggested technology helps to determine project objectives and content and adapt them in regards to possible; as well as to implement measures aimed at reducing these risks, to increase productivity of the existing risk assessment and risk management tools, to organize effective cooperation between project team members, and to promote accumulation of knowledge about the project during its development and implementation.The authors declare no conflict of interest.


Author(s):  
Elena Lytvynenko ◽  
◽  
Taisiya Kozlova ◽  

The changeable and unpredictable development of the enterprises’ external environment is one of the appearance causes of various types of business activities' risks, including logistics. The purpose of this article is to develop recommendations on improving the risk management of enterprises’ logistics activities in the context of instability. Achieving this goal requires consideration of the main stages of this process regarding the logistics activities' risks, providing advices on improving the process of risk management of logistics orientation. The article explores the process of analyzing the logistics activities' risks of the enterprise. Proceeding from the theoretical provisions of management and summarizing the practical experience of research in the field of systematic analysis of the enterprises' logistics activities risks, there are traced the organization's peculiarities of such analysis, and the main directions of its further improvement are proposed. All actions in the article, which are related to the analysis of the risk of enterprise logistics activity, are proposed to carry out in a certain sequence in the article. This sequence is given in the form of a structural scheme of systematic analysis of the risks of the enterprise logistics activities. Based on the objectivity of the existence of logistics activities' risks and the need to ensure the rational management of them, the algorithm of the risk management in the enterprise logistics system covers the stages of risks' identification, their qualitative and quantitative assessment, diagnostics, assessment of risk acceptability and application of neutralization measures to unacceptable logistical risks. It is concluded that the logistics activities risks combine different types of risks of all components and elements both in the process of changing material, financial and information flows, as well as in the process of managing the risks arising in the logistics system


2017 ◽  
pp. 139-145
Author(s):  
R. I. Hamidullin ◽  
L. B. Senkevich

A study of the quality of the development of estimate documentation on the cost of construction at all stages of the implementation of large projects in the oil and gas industry is conducted. The main problems that arise in construction organizations are indicated. The analysis of the choice of the perfect methodology of mathematical modeling of the investigated business process for improving the activity of budget calculations, conducting quality assessment of estimates and criteria for automation of design estimates is performed.


2021 ◽  
pp. 1-15
Author(s):  
Weizhong Wang ◽  
Yilin Ma ◽  
Shuli Liu

Current risk prioritization approaches for FMEA models are insufficient to cope with risk analysis problem in which the self-confidence of expert’s judgment and the deviation among risk evaluation information are considered, simultaneously. Therefore, to remedy this limitation, this paper reports an extended risk prioritization approach by integrating the MULTIMOORA approach, Z-numbers and power weighted average (PWA) operator. Firstly, the Z-numbers with triangular fuzzy numbers are applied to reflect the self-confidence and uncertainty of expert’s judgment. Next, the PWA operator for Z-numbers (Z-PWA) with similarity measure is proposed to obtain the group risk evaluation matrix by considering the influence of the deviation among risk evaluation information. Then, an extended version of MULTIMOORA method with developed entropy method is presented to calculate risk priority ranking order of each failure. Finally, the equipment failures in a certain oil and gas plant is utilized to test the extended risk prioritization approach for FMEA model. After that, the sensitivity and comparison studies are led to illustrate the availability and reliability of the proposed risk prioritization approach for FMEA based risk analysis problem.


Author(s):  
Rakesh Yarlagadda ◽  
M. Affan Badar ◽  
Boris Blyukher

The safety of oil and gas pipelines has increasingly considered day by day to their vulnerability. Pipelines play a very critical role in the transportation of oil and natural-gas. As they have become the veins of oil industries, the productive design and analysis became more important. This made them more vulnerable to terrorist attacks. Although it is impossible to design pipelines to withstand any conceivable damage due to external (terrorist attacks, seismic effects) and internal effects (design and manufacturing defects), it is possible to improve the performance of pipelines. By understanding the design criteria, it saves lots of money and more over human lives and also protects the product in pipelines, which cannot be recovered and which is more and more scares day by day. This research aims: 1) to understand the different types of pipeline damages, reasons for their occurrence and their effects on the pipelines, such as mechanical damages, material defects, cracks, manufacturing defects, 2) to understand the explosions in pipelines, internal or external explosions and seismic distress, 3) to do research and literature review in analytical and numerical methods which allow researching the influence of shock waves (explosions, seismic), 4) to develop description of experimental research of pipelines subjected to shock waves (explosions, seismic), 5) to establish an effective methodology (develop mathematical model) to study the risk management in pipeline exploitation which can be subjected to such conditions like shock waves (caused by explosions, seismic, as well as mining activities) on pipeline systems (buried, on surface, or underwater), and 6) to establish criteria for risk management. This paper includes a review of the related literature covering the first two goals.


2021 ◽  
Vol 13 (4) ◽  
pp. 2034
Author(s):  
Chien-Liang Lin ◽  
Bey-Kun Chen

Risks inevitably exist in all stages of a project. In a construction project, which is highly dynamic and complex, risk factors affect the expected achievement rates of the three main performance goals, namely schedule, cost, and quality. A comprehensive risk management procedure requires three crucial steps: risk confirmation, analysis, and treatment. Risk analysis is the core of risk management. Through structural equation modeling, this study developed a risk analysis model that takes a different perspective and considered the occurrence probability of risk events and the extent to which these events affect a project. The contractor dimension was discovered to exert the strongest influence on an overall project, followed by the subcontractor and design dimensions. This paper proposes a novel construction project risk analysis model, which considers the entire project. The proposed model can be used as a reference for risk managers to make decisions about project risks, so as to achieve the ultimate goal of saving resources and the sustainable operation of the construction project.


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